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The old adage "change is inevitable" rings especially true for economic development practitioners who must not only adapt to changes, but anticipate them and employ the best methods to capitalize on new opportunities. SSTI's conference session, Re-Orienting Your Organization for Today's Economy, pulls together three organizations at the local, state and federal level to examine how they have re-oriented their work to reflect the changing economy and the needs of their clients.

Governors and policymakers working toward economic development reform are in a unique position to propose critical changes that would not have been feasible in the past and gain broad support for transforming economic development agencies to better meet the needs of businesses, according to a new white paper from the National Governors Association (NGA). NGA has identified three major challenges states are facing and three foundational strategies to increase effectiveness of state economic development agencies.

As U.S. politicians turn their eyes towards this year's election season, governments around the world continue to focus their efforts on increasing national global competitiveness. Over the past couple months, Australia, China and New Zealand have announced government initiatives to spur innovation, revitalize domestic manufacturing and support R&D.

Borrowing from an industry sector phrase used to describe a complete view of investment impact, the Economic Development Administration (EDA) unveiled its new Triple Bottom Line tool to help economic development practitioners and investors assess, compare and communicate the potential impact of projects. EDA says the triple bottom line approach can help better align economic development investments with other community priorities to maximize impact.

SSTI will be holding a congressional briefing from 1:00-2:30 p.m. on September 12 in Washington, DC, featuring seven of its members. The briefing, "Lessons from the Field on a Path to Sustained Economic Growth and Job Creation," will provide an overview of state, regional and university tech-based economic development efforts and highlight work being done by Ben Franklin Technology Partners, BioSTL, Center for Innovative Technology, Georgia Research Alliance, JumpStart, Michigan Economic Development Corp, and NorTech.

The Securities and Exchange Commission (SEC) announced its first proposed rule that will help make equity-based crowdfunding a reality. The proposed rule (Rule 506) will allow for the general solicitation and general advertising of securities. At this point, however, the rule will only apply to accredited investors — an individual with income of more than $200,000 per year or a net worth of over $1 million dollars, excluding the value of the investor's primary residence.

New efforts to step up technology transfer at the University of New Mexico (UNM) and the University of Tennessee (UT) have resulted in a record number of invention disclosures over the last year. In both cases, much of the achievement is attributed to faulty involvement, including new outreach efforts by the universities and more aggressive and ambitious goals set for the institutions.

Come early or stay late and bring the whole family with you to SSTI's 16th Annual Conference, October 29-30. Atlanta has the biggest aquarium, the coolest Coca Cola Museum, and some of the best golf in the U.S. Outdoor activities that celebrate nature, like the Atlanta Botanical Garden and Piedmont Park abound, as does high culture — from art museums to great shopping. You could spend a month in Atlanta without doing the same thing twice.

The National Science Foundation (NSF) announced that it is accepting applications for the establishment of Innovation Corps (I-Corps) teams and sites. These programs are intended to provide additional funding and other services to help researchers commercialize NSF-funded scientific discoveries at institutions of higher education.

To better serve all parts of the state by connecting experienced mentors with startup companies, the Kentucky Innovation Network has a new name and logo, a tighter focus, and expanded services. Established in 2002 as the Innovation and Commercialization Center program, the Kentucky Innovation Network will offer services to entrepreneurs from 13 locations across the state, and as part of the re-branding effort, three smaller centers will be upgraded to full-service centers.

New York Governor Andrew Cuomo announced that the state has started accepting applications for the $25 million "Connect NY" program to promote and expand broadband Internet access. The grants will be awarded to public-private partnerships comprised of internet service providers, local governments and economic-development organizations.

University licensing and commercialization activity remained steady in 2011, with modest increases in most areas of technology transfer activity, according to the most recent edition of the Association of University Technology Managers' (AUTM) U.S. Licensing Activity Survey. AUTM released a preview of its 2011 survey results this week, with a full report to follow later this year.

In comparison to most of its peer states, Colorado's workforce excels in educational attainment and entrepreneurship, according to the first Colorado Innovation Index. The index, published by the Colorado Innovation Network, evaluates Colorado's economy in relation to seven benchmark states, including Arizona, California, Massachusetts, New York, North Carolina, Texas and Utah. Only Massachusetts had a higher percentage of Bachelor's degree holders in its workforce, and only Massachusetts and New York had a higher percentage of graduate degree holders.

The start of a new school year is already underway leading to the often dreaded task of choosing a major. For today's students, balancing a rewarding career with one that offers in-demand employment opportunities has become even more of a struggle. Results from a new survey suggest the engineering field might just fit the bill, however. A survey of more than 1,200 mechanical engineers offers insight into a profession where most hold an optimistic view of their work and their ability to impact lives and meet global challenges.

This week, White House officials announced the names of the country's first class of Presidential Innovation Fellows. The 18 fellows, drawn from the ranks of private sector innovators and entrepreneurs, will spend six months working on five high-impact projects aimed at supporting U.S. entrepreneurs, small businesses and the economy. Read the announcement

Tony Grindberg, executive director at the NDSU Research and Technology Park, has announced his resignation effective Sept. 30. He has accepted a position as the business unit manager for the Aerospace Business Unit of Appareo Systems, LLC. Appareo Systems is headquartered in the NDSU Research Park on the NDSU campus. Grindberg has been with the NDSU Research Park for the past 10 years.

Long-term U.S competitiveness is threatened due to a lack of progress in U.S. child development areas that are the best indicators of human capital development, according to a new report from the Center for American Progress — The Competition that Really Matters. The authors found that U.S. gains in education, health, family income and childhood poverty and pro-family workplace policies have remained stagnate while our competitors including China and India have increased significantly since 1980. If U.S.

On Thursday, the Obama administration announced it had selected the TechBelt region, encompassing northeast Ohio, western Pennsylvania and northern West Virginia, to host the pilot institute of the National Network for Manufacturing Innovation (NNMI). The new National Additive Manufacturing Innovation Institute (NAMII) will operate as a partnership of more than 60 companies, research universities, community colleges and nonprofit organizations from the region.

The Small Business Administration released two Requests for Information (RFIs) on amendments to the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. In compliance with the SBIR/STTR Reauthorization Act of 2011, SBA has made several key changes to the SBIR/STTR programs relating to eligibility, the award process, program administration and fraud, waste and abuse. Although the SBA has already published the final changes, it is requesting comments on the various amendments made.

With their vast knowledge about technology and access to expertise inside and outside the university, graduate and post doctoral students play an important role in helping spinoff successful companies. Moreover, universities should encourage students to explore entrepreneurship through spinoffs as a potential career option outside of academia. This recommendation is among three guidelines outlined in a recent report that examines the important roles of students and faculty in the university technology transfer process.

While still vulnerable to economic shocks both domestically and from international developments, states are reporting improved revenue, spending within budgeted amounts, and the ability to shore up rainy day funds. Ten states and the District of Columbia expect to finish FY12 with year-end balances of 10 percent or more, and new budget gaps are rare and confined to a few states. Overall, state fiscal offices appear better positioned to handle the challenges ahead.

Research collaborations between institutions of higher education are becoming an increasingly important facet of U.S. R&D, according to the National Science Foundation (NSF). A new NSF InfoBrief reveals that pass-through funds, R&D expenditures transferred from one institution to another, represented seven percent of total expenditures in 2009. In 2000, they represented only five percent of expenditures.

While job growth in the South is relatively strong (20 percent growth) compared to the nation (17 percent), many southern states are trapped in an economic cycle known as a low-wage/low-skill equilibrium, according to A Decade Behind: Breaking Out of the Low-Skill Trap in the Southern Economy — a new report from the Georgetown University Center on Education and Workforce.

Re- is a remarkable prefix. Use of these two little letters in front of a word can demand we pause to reflect, re-examine and review how our situation has changed — and so too should our actions.

Re- recognizes the status quo isn't acceptable anymore. It reveals a need to rethink what we're doing and to react differently. It requires us to reconsider our goals and desired outcomes. It urges us to respond more appropriately to a new reality with new opportunities.

Change is constant. Every era ushers in forces requiring people, businesses, institutions and governments to adapt. The Great Recession, globalization, demographic shifts and stunning technological advances herald a new era demanding significant transformation. You wouldn't know that looking at how most economic development is practiced, however. That has to change.